Seems like that is a liberal arts school? What degree are you pursuing?
Holy Shit $48,121 a year???
That's $192,484 for 4 years... (for a STEM degree expect 5 years to be safe so $240,605)
$6000 a year is peanuts for a school like that, that's only $24,000 for your duration. Unless you have a family member paying for the school, or somehow have $200k saved up somewhere, you are going to have a near impossible time paying that much debt off. I would go to that school if the financial aid package made the tuition only $6000 for me.
Student loans usually have a 5% interest rate after you graduate, even if you are going to get an engineering degree you will be paying off that debt for the rest of your life. Keep in mind you will basically be graduating with a home mortgage, but without the home, and the ability to resell it.
If you ever want to work in anything national security related (ie. requires a security clearance) that much debt will disqualify you from being able to get your clearance.
I know it feels good to be accepted to a more prestigious school, but I'd highly recommend choosing a different school if you have to take out loans to cover the difference. You will never get that money back out of that school.
I pay $3000 a semester for upper level tuition (That is the price without any sort of financial aid). I have been in school for 6 years so far and have only paid $36,000. Thankfully I could make enough each summer that I could pay for school without needing to take out any loans.
I doubt whatever job you get will pay 6 times more than what I will be making.
I also got accepted to RIT
www.rit.edu, which is also a similarly prestigious school, with a similar price tag. I got a $4000 loan for all 4 years, and a $600 a semester work detail for a financial aid package. I took one look at that package and said hell no, and went to UAF instead.
www.uaf.eduI haven't regretted it a bit.